Methanex (NASDAQ:MEOH) PT Lowered to $52.00 at Barclays

Methanex (NASDAQ:MEOHGet Rating) (TSE:MX) had its price target lowered by Barclays from $60.00 to $52.00 in a research report sent to investors on Tuesday morning, The Fly reports.

MEOH has been the topic of several other research reports. Piper Sandler decreased their price target on Methanex from $48.00 to $40.00 and set an underweight rating on the stock in a research note on Friday, July 29th. Royal Bank of Canada dropped their target price on Methanex from $60.00 to $55.00 and set an outperform rating on the stock in a report on Friday, July 29th. Alembic Global Advisors restated a hold rating and issued a $40.00 price objective on shares of Methanex in a research note on Monday, May 9th. Jefferies Financial Group increased their target price on Methanex from $67.00 to $73.00 in a research note on Thursday, June 16th. Finally, Raymond James reduced their price target on Methanex from $58.00 to $50.00 and set a market perform rating on the stock in a research report on Friday, July 29th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of Hold and an average target price of $51.23.

Methanex Price Performance

Shares of NASDAQ MEOH opened at $35.77 on Tuesday. The firm has a market capitalization of $2.54 billion, a PE ratio of 5.55 and a beta of 1.67. The company has a debt-to-equity ratio of 0.90, a current ratio of 2.35 and a quick ratio of 1.77. Methanex has a 1-year low of $29.61 and a 1-year high of $56.79. The business’s fifty day moving average price is $41.14 and its two-hundred day moving average price is $47.42.

Methanex (NASDAQ:MEOHGet Rating) (TSE:MX) last released its quarterly earnings results on Wednesday, July 27th. The specialty chemicals company reported $1.16 earnings per share for the quarter, missing analysts’ consensus estimates of $1.85 by ($0.69). Methanex had a net margin of 11.10% and a return on equity of 24.76%. The company had revenue of $1.14 billion during the quarter, compared to analyst estimates of $1.18 billion. On average, research analysts expect that Methanex will post 5.78 EPS for the current year.

Methanex Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 30th. Stockholders of record on Friday, September 16th will be issued a $0.175 dividend. The ex-dividend date of this dividend is Thursday, September 15th. This is an increase from Methanex’s previous quarterly dividend of $0.15. This represents a $0.70 dividend on an annualized basis and a dividend yield of 1.96%. Methanex’s payout ratio is 8.99%.

Institutional Investors Weigh In On Methanex

Several large investors have recently added to or reduced their stakes in the stock. Lazard Asset Management LLC increased its stake in Methanex by 37.2% during the 1st quarter. Lazard Asset Management LLC now owns 1,114 shares of the specialty chemicals company’s stock valued at $60,000 after purchasing an additional 302 shares in the last quarter. Van ECK Associates Corp lifted its holdings in Methanex by 64.7% during the first quarter. Van ECK Associates Corp now owns 779 shares of the specialty chemicals company’s stock valued at $42,000 after purchasing an additional 306 shares in the last quarter. Quadrant Capital Group LLC lifted its holdings in Methanex by 9.7% during the fourth quarter. Quadrant Capital Group LLC now owns 3,846 shares of the specialty chemicals company’s stock valued at $152,000 after purchasing an additional 339 shares in the last quarter. Benjamin F. Edwards & Company Inc. acquired a new stake in shares of Methanex in the first quarter valued at about $27,000. Finally, Hsbc Holdings PLC raised its position in shares of Methanex by 9.1% in the first quarter. Hsbc Holdings PLC now owns 10,197 shares of the specialty chemicals company’s stock valued at $563,000 after buying an additional 850 shares during the last quarter. 91.37% of the stock is owned by hedge funds and other institutional investors.

Methanex Company Profile

(Get Rating)

Methanex Corporation produces and supplies methanol in North America, the Asia Pacific, Europe, and South America. The company also purchases methanol produced by others under methanol offtake contracts and on the spot market. In addition, it owns and leases storage and terminal facilities. The company owns and manages a fleet of approximately 30 ocean-going vessels.

Further Reading

The Fly logo

Analyst Recommendations for Methanex (NASDAQ:MEOH)

Receive News & Ratings for Methanex Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Methanex and related companies with MarketBeat.com's FREE daily email newsletter.